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Please read: A lot of people here don’t understand how the SEC and securities work.

Please read: A lot of people here don’t understand how the SEC and securities work.

There has been a lot of talk about the SEC meeting and whether or not it even took place, or whether there was going to be a ruling and how this will all play out. I think a lot of that confusion comes from people not understanding how the SEC works.

First of all, the SEC doesn't need to have any sort of hearings or even make public its decision to declare Ethereum or any other coin a security. If they do decide, they will simply charge the Ethereum Foundation with a securities violation and then it goes to court. A "ruling" will only come after it plays out in court.

The SEC has no obligation to hold any kind of hearings or have any kind of approval. They have full jurisdiction. They also have no obligation to make their findings public, and they won't. If they decide Ethereum is a security, they will not come out and say it publicly. The will simply contact the Ethereum Foundation, probably by mail, and inform them that they violated security laws and they are being charged. From that point it becomes a legal proceeding where the Ethereum Foundation can argue the case. This is how you will find out Ethereum has been charged.

After that, then the SEC will probably put out a public announcement. But once again, this is all a case by case by case basis. They will not suddenly say all crypto is either a security or it isn't.

Finally, I'm not saying the SEC will determine Ethereum is a security. But if they do, the above is how it will all play out. There will most likely NOT be a crypto wide announcement by the SEC. They will charge one or two projects with violations, then take it to court if the founders of those projects fight the charges.